Optogan opens HB LED factory in St.Petersburg

MANHASSET, NY -- Optogan, a supplier of high brightness LEDs, has opened a new manufacturing plant in St. Petersburg, Russia with a production line capable of an annual capacity of 360 million LEDs.

It is touted as the largest LED component and module factory in Eastern Europe and the the former Soviet Union. The factory had an overall investment of 3.35 billion rubles (about $106 million). The factory will employ up to 800 people, covers 15,000 m2 of floor space 5,000 m2 of which is taken up by a clean room environment.

Rusnano, the quasi-government incubator of nanotechnologies, used its fund to support the factory launch.

"It is a first step in the development of a new energy efficient economy and development of the lighting industry in Russia," said Anatoly Chubais, General Director of Rusnano.

According to investor Onexim's president Mikhail Prokhorov, "Onexim's strategy is to invest in these types of innovative companies, which can produce quality products and win a major market share in Russia, as well as the potential to grow globally. We are sure that thanks to this type of production our country has all the opportunities to develop on the global markets."

Onexim invests in the mining and metals sectors, power engineering sectors including hydrogen power, and nanotechnologies.

"LEDs produced in St. Petersburg will be sold in Russia and abroad," said executive vice president Alexey Kovsh. Optogan will supply LED core technology for light fixtures through an extensive network of partners within Russia and has aspirations for global distribution.

"The opening of the new high-tech factory in Russia marks another step forward in the modernization and globalization of the Russian economy," said CEO Odnoblyudov.